Dhaka, Bangladesh (BBN) – The board of directors of Sonali Bank Limited have categorically denied allegations of their failure in managing the bank properly, saying that they are performing in line with the central bank’s instructions.
“The then managing director of the bank did not inform the board about the loan scam,” a Sonali bank statement said on Wednesday, adding that such a scam could have been prevented if the authorities got information earlier.
The country’s largest state-owned Sonali Bank Limited has taken moves to realize their loan from Hallmark Group, along with taking actions against its 32 officials allegedly involved in loans scam.
Managing Director and Chief Executive Officer of the bank Pradip Kumar Dutta disclosed this at a press conference held at its headquarters in Dhaka Wednesday after a meeting of its board of directors.
“We’ve started discussions with Hallmark Group for documentation, securitization and realization of the amount of the loan to protect depositors’ interest,” Mr Dutta said, adding that the Sonali Bank has already been able to recover BDT 3.77 billion from the Hallmark Group.
He also said the Hallmark Group has already accepted the liabilities of their loans.
“We’re now working with full vigour to take action against the alleged officials. But we need some time to prevent any loophole before going for actions, both departmental and legal, against the alleged officials,” he said while replying to a query relating to the central bank’s directive, issued on August 26 last.
The central bank asked on August 26 last the MD of Sonali Bank to suspend temporarily 31 more officials including two deputy managing directors (DMDs), suspected of being involved in the Hallmark loan scam.
The central bank has also asked the MD to inform it by August 30 about actions taken against the officials.
Directors of the bank Kashem Humayun and K.M. Zaman Romel also spoke on the occasion.
BBN/SSR/AD-30Aug12-1:10pm (BST)